How Much, on Average, Can I Expect to Spend on Home Maintenance?
Expect to spend one percent of the purchase price of your home every year to handle a myriad of tasks, including painting, tree trimming, repairing gutters, caulking windows, and routine system repairs and maintenance. An older home will usually require more maintenance, although a lot will depend on how well it has been maintained over the years. Tell yourself that the upkeep of your home is mandatory, and budget accordingly. Otherwise, your home’s value will suffer if you allow it to fall into a state of disrepair. Remember, there is usually a direct link between a property’s condition and its market value: The better its condition, the more a buyer will likely pay for it down the road. Also, adopt the attitude that the cost of good home maintenance is...
Read MoreIs a Reverse Mortgage Good for Elderly Homeowners?
A reverse mortgage is an increasingly popular option for older Americans to convert home equity into cash. Money can then be used to cover home repairs, everyday living expenses, and medical bills. Instead of making monthly payments to a lender, the lender makes payments to the homeowner, who continues to own the home and hold title to it. According to the National Reverse Mortgage Lenders Association, the money given by the lender is tax-free and does not affect Social Security or Medicare benefits, although it may affect the homeowners’ eligibility for certain kinds of government assistance, including Medicaid. Homeowners must be at least 62 and own their own homes to get a reverse mortgage. No income or medical requirements are necessary to qualify, and they...
Read MoreTips for a Successful House Hunt
Please watch this short RisMedia sponsored video that gives tips for a successful house hunt. This is great information for those who are first time buyers, or even experienced buyers in the market for their next home. For more information about buying or selling a home in the Newport Beach area, visit my website at www.brianliberto.com/.To search like an agent in Southern California, sign up for a Listingbook account with the link on this...
Read MoreAre Fees and Assessments owed a Homeowner’s Association Deductible?
The short answer to this is generally not because they are considered personal living expenses. But if an association has a special assessment to make capital improvements, condo owners may be able to add the expense to their cost basis when the property is sold. Another exception may apply if you rent your condo – the monthly condo fee is deductible every year as a rental expense. For more information about buying or selling a home in the Newport Beach area, visit my website at www.brianliberto.com/.To search like an agent in Southern California, sign up for a Listingbook account with the link on this page. Tweet
Read More10 Tips For Buying a Rental Property
Looking to diversify your investments and take advantage of the current dip in real estate prices? While by no means a passive investment, if you’re up to the challenge, residential rental property ownership can provide not just additional short- and long-term income, but tax benefits as well. But the trick’s in the buying. An error at this critical stage is one you’ll pay for again and again over the life of the property, so it’s important to be a well-informed and cautious buyer, taking the time to do the necessary research. My own experience with six rental properties has taught me a few things worth sharing. 1. Buy at the right price A bargain now will help you to better withstand fluctuations in property value over time so you can profit if and when...
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Brian Liberto
DRE# 01473233
Brian Liberto brings a wealth of experience in both negotiation and business development. He delivers a dynamic, diverse and non-traditional sales... Read More
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